On February 27th, Akash Network (AKT) has been listed on HotsCoin. Akash Network (AKT) is a distributed peer-to-peer market for cloud computing. It offers consumers an alternative to centralized cloud providers through a distributed peer-to-peer cloud marketplace that lets users set the price for deploying software, while providers with additional computing power bid to host users' applications. AKT is currently open for trading on HotsCoin.
Market capitalization information:
Circulation market value: $53,217,184.907
Fully diluted market cap: $117,466,437.93
Circulation volume: 453,041,616.34 AKT
Total supply: 1,000,000,000 AKT
Akash Market
Akash is an open source platform with a distributed peer-to-peer cloud marketplace that connects users seeking cloud services with infrastructure providers with excess computing resources. The platform uses Kubernetes as a cloud management service to run workloads and operates via a reverse auction model, allowing users to name a price and describe the resources they want to deploy containers on.
Who runs the network?
Overclock Labs has guided the development of Akash Network, but it does not control the majority of the network’s validators, making it a decentralized protocol. While Overlock is still involved in Akash's development, Akash's own developer community is growing.
Akash Network
The Akash network is built on the Cosmos SDK framework and utilizes the Tendermint Byzantine Fault Tolerance engine as its Delegated Proof of Stake consensus algorithm. Validators in the DPoS protocol stake according to the amount of AKT they hold, receive inflation rewards, and participate in network verification.
AKT Token Economics and Utility
AKT is a utility token with multiple uses including security, rewards, network governance, and transactions. AKT holders can participate in governance, submit proposals, verify transactions, and lock holding time to obtain rewards.
Akash’s continued development
Akash plans to continue evolving in 2022, including new features such as persistent storage, fractional uAKT, AuthZ, inflation curves, and more. The target market covers Web3, artificial intelligence and machine learning, making it a decentralized cloud computing platform that meets the needs of different users.
Decentralized cloud competition
Akash faces other decentralized competitors such as Dfinity, Ankr and Cudos. Each project has its own unique way of approaching cloud computing, but Akash attracts users through its marketing campaign, decentralized protocol, and low cost.
in conclusion
Akash Network, as a decentralized cloud computing platform, provides a novel solution through its distributed peer-to-peer marketplace and AKT token economics. Its low cost, flexibility and open source nature give it a competitive advantage in the market. As Web3 evolves and the need for decentralized computing increases, Akash will likely continue to thrive in the future.
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